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Chana up 0.31% on rise in demand

speculators enlarged their positions, driven by pick up in demand in the spot market

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Press Trust of India New Delhi

Chana prices rose by Rs 13 to Rs 4,150 per quintal in futures trade today as speculators enlarged their positions, driven by pick up in demand in the spot market.

Slow sowing due to a delayed harvesting of summer-sown crops in some states supported the buying.

At the National Commodity and Derivatives Exchange, the Jnauary contract chana for delivery in January rose by Rs 13, or 0.31% to Rs 4,150 per quintal, with an open interest of 79,000 lots.

The December contract edged up by Re 1, or 0.02%, to Rs 4,275 per quintal in a trade volume of 62,720 lots.

Market analysts said increased buying by speculators, driven by pick-up in demand in the spot market mainly led to rise in chana futures.

 

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First Published: Nov 29 2012 | 2:58 PM IST

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